STO Express to acquire Alibaba-backed logistics firm DanNiao for RMB 362 million

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STO Express announced plans to acquire 100% of DanNiao Logistics, a unit under Alibaba’s Cainiao, for RMB 362 million ($50 million) in cash, according to a company filing on July 25. DanNiao provides premium last-mile and reverse logistics services for platforms like Tmall and Taobao, operating 59 sorting centers and over 2,600 service outlets across China. In 2024, it reported revenue of RMB 12.35 billion ($1.7 billion) and net profit of RMB 20.1 million ($2.8 million). However, from January to April 2025, the firm posted a net loss of RMB 233 million ($32 million), attributed to seasonal slowdowns and price pressures. STO said the acquisition aims to strengthen its competitiveness and long-term growth by integrating DanNiao’s high-certainty delivery services, such as half-day delivery and doorstep service, into its network.